Pakistan, Hungary agree to enhance bilateral trade

• Envoy says meeting of Pak-Hungary Joint Economic Commission will be held in Sept this year in Budapest

ISLAMABAD: Hungarian Ambassador István Szabó called on Advisor to Prime Minister on Commerce Abdul Razak Dawood in Islamabad on Friday to discuss the bilateral issues pertaining to trade and investment.

The ambassador informed the advisor that a meeting of Pak-Hungary Joint Economic Commission would be held in September this year in Budapest, Hungary.

The meeting noted that Pakistan's major exports to Hungary included cotton, medical apparatus, leather and textile goods. It was informed that Hungary had already invested in the oil and gas sector of Pakistan while its company, MOL, is operating efficiently with the help of local partners.

The Hungarian envoy offered technical assistance in the area of agriculture. He said Hungary had made impressive progress in the agriculture sector by introducing modern technology, research and good agricultural practices.

Both sides agreed to boost bilateral trade through a proactive approach and improved engagement.

It is pertinent to mention that agriculture plays a pivotal role in the life of Pakistan’s economy, as it accounts for around 20pc of GDP. Agriculture not only furnishes food and raw material but also employment opportunities to a very large proportion of population as well. However, the agriculture sector has been performing far below its potential due to a number of issues.